Trump Threatens Higher Tariffs On India Over Russian Oil Trade
US President Donald Trump has once again strongly warned India over its continued purchase of Russian oil, threatening a significant increase in import tariffs on Indian goods.
In a post on his social media platform, Truth Social, Trump said that India is not only buying large quantities of oil from Russia but is also selling it in the global market for profit. He added that India shows no concern about how many lives the Russian war machine is taking in Ukraine.
Trump further stated that, because of this, he plans to impose a substantial increase in tariffs on goods India exports to the US. However, he did not specify the new tariff rates or when they would come into effect. His recent statements make it clear that Washington is no longer willing to tolerate India’s ongoing oil trade with Russia.
Just a few days ago, Trump had also imposed 25% tariff on imports from India, along with unspecified additional penalties, though no details have yet been released.
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On the other hand, Indian government sources told local media that Trump’s proposed policies would have only a minor impact on the Indian economy. According to them, the maximum estimated effect on India’s GDP would be around 0.2%.
The sources also said Indian oil companies have no plans to halt imports from Russia, as the country’s energy policy is driven entirely by national interests and market demands.
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